According to brokerage houses reports due to increasing in Foreign investment, the market has upside potential in long-term prospects. Auto and Logistics sector may boom. There is time to pass GST bill perfectly. The bill will now present in front of Loksabha, after that it will have to pass at the state level. On the state level, it must be approved by 50% legislator which is the biggest challenge because the tax introduced in in GST is refused by states. Thus the GST bill can get objection on constitutional validity in Supreme court. So we advise investors not only to see GST bill but to keep fundamental and technical outlook to make the investment.
Bank Nifty Option Call Expiry 25 August 2016 Strike price 18700
Sell below: 319.52 Targets: 315.22, 310.80, 306.40 Stop loss: 324.00
ICICI Bank Option Put Expiry 25 August 2016 Strike price 240
Buy above: 7.25 Targets: 7.26, 7.26, 7.27 Stop loss: 7.24.